Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Update

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 382,900 shares, an increase of 49.1% from the March 31st total of 256,800 shares. Based on an average trading volume of 383,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.5% of the shares of the stock are sold short.

Unicycive Therapeutics Stock Up 6.2 %

Unicycive Therapeutics stock opened at $1.03 on Friday. The stock has a market capitalization of $35.80 million, a price-to-earnings ratio of -0.66 and a beta of 2.66. Unicycive Therapeutics has a 12-month low of $0.47 and a 12-month high of $1.82. The stock has a 50-day simple moving average of $1.38 and a 200 day simple moving average of $0.97.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. As a group, sell-side analysts anticipate that Unicycive Therapeutics will post -0.58 EPS for the current year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of UNCY. Rosalind Advisors Inc. acquired a new stake in Unicycive Therapeutics in the 1st quarter valued at approximately $2,594,000. Vivo Capital LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth approximately $2,984,000. Finally, RA Capital Management L.P. acquired a new stake in shares of Unicycive Therapeutics in the third quarter valued at approximately $2,985,000. Institutional investors and hedge funds own 40.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on UNCY shares. Piper Sandler assumed coverage on shares of Unicycive Therapeutics in a research report on Thursday, April 4th. They issued an “overweight” rating and a $9.00 price target for the company. Noble Financial initiated coverage on Unicycive Therapeutics in a research report on Wednesday, February 14th. They set an “outperform” rating and a $6.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price target on shares of Unicycive Therapeutics in a research note on Monday, April 1st. Finally, Benchmark reiterated a “speculative buy” rating and set a $3.00 price objective on shares of Unicycive Therapeutics in a research note on Monday, April 15th.

About Unicycive Therapeutics

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.